EarlyBirdCapital is the sole bookrunner on the deal. It filed confidentially on December 18, 2020. Property Solutions Acquisition II was founded in 2020 and plans to list on the Nasdaq under the symbol PSAGU. ![]() Property Solutions Acquisition II seeks to acquire businesses that service the real estate industry, ranging from real estate service companies to property technology, or “PropTech,” companies. The pair's previous SPAC, Property Solutions Acquisition (PSAC +66% from $10 offer) raised $200 million in July 2020 and is pending a combination with EV startup Faraday Future. The company is led by Co-CEO and Chairman Jordan Vogel and Co-CEO and Director Aaron Feldman, the co-founders and Co-Managing Partners of Benchmark Real Estate Group. At the proposed deal size, Property Solutions Acquisition would command a market value of $322 million. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. As a real estate brokerage located in Bakersfield, California, we value our clients’ trust and strive every day to exceed their expectations. The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Slide 1 Slide 1 (current slide) Slide 2 Slide 2 (current slide) Slide 3 Slide 3 (current slide). We are excited about this partnership.Property Solutions Acquisition II, the second blank check company formed by Benchmark Real Estate Group targeting the real estate industry, filed on Friday with the SEC to raise up to $250 million in an initial public offering. “We know where the pain points are in the resident lifecycle and believe that Canvas Property Group provides the best end-to-end property management solution in the market. “As we continue to expand our value-add investment business at Benchmark Real Estate Group, it was important that we identify a strategic partner to help us optimize the day-to-day resident experience and asset performance,” said Aaron Feldman, Principal at Benchmark Real Estate Group. They are working with the existing Canvas team to form a group capable of scaling up to handle at least double the unit count in 2021. Canvas Property Group has taken on five senior managers from the Benchmark team with key roles in leasing, construction, management and accounting. Canvas Property Group and Benchmark Real Estate Group’s combined portfolio now consists of over 50 properties and 1,500 multifamily units in New York City. Headquartered in Portland, Maine, we are big enough to provide global marketing reach and the latest real estate technologies, but small enough to ensure every client gets personalized service and an exceptional experience. 202 Goldfinch Road Mount Juliet, Tennessee. Benchmark Real Estate is a full-service real estate agency offering sales, consulting, development, and investor services. The partnership transition began on April 1 of this year and has now been finalized. View Mt Juliet Luxury Homes over 500,000 by clicking the real estate listings below. “Through communication with the Benchmark team – and being close friends with Aaron Feldman, Principal of Benchmark Real Estate Group for over a decade – we constantly learn from one another and know that this relationship will continue to build and grow over the next several years.” Tony has experience in all segments of real estate appraising, ranging from small residential properties to large resort-type properties. ![]() “The past 14 months since the start of the pandemic have reinforced the notion that as you build a firm, it is important to work with people who are accretive to your life and business,” said Robert Morgenstern, Managing Principal of Canvas Property Group. Benchmark Real Estate Group will pursue value-add multifamily assets as they always have while Canvas Property Group handles the day-to-day responsibilities for management, accounting, reporting and data analytics. Through customized planning, reporting, and management our clients have access to the vital information needed to make key decisions on each property, ensuring the long-term success of their investment. Both firms will continue as separate entities. Benchmark Real Estate Group provides comprehensive solutions in every division of the company. The NYC-based firms will remain separate entities but will collaborate to find the best solutions in multifamily technology, reporting and management.Ĭanvas Property Group, an entrepreneurial, tech-focused property and asset management company specializing in multifamily real estate in the Northeast with a focus on New York City, today announced that it has entered a partnership with Benchmark Real Estate Group.īenchmark Real Estate Group is a real estate investment and management firm specializing in the acquisition and repositioning of New York City multifamily assets through a value-add private equity fund structure.
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